RBI/2016-17/306 DBR.No.BAPD.BC.69/22.01.001/2016-17 May 18, 2017 The Chairman and Managing Director/Chief Executive Officer All Domestic Scheduled Commercial Banks (Excluding Regional Rural Banks), Small Finance Banks, Payment Banks and Local Area Banks Madam/Dear Sir, Rationalisation of Branch Authorisation Policy- Revision of Guidelines Please refer to the paragraph 11 on ‘Banking Outlets – Final Guidelines’ (extract enclosed) of the Statement on Developmen...

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RBI/2016-17/305 DBR.No.BP.BC.70/21.04.142/2016-17 May 18, 2017 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam/Dear Sir, Partial Credit Enhancement to Corporate Bonds Please refer to paragraph 21 (a) of the Guidelines on Partial Credit Enhancement to Corporate Bonds by Banks annexed to thecircular DBR.BP.BC.No.40/21.04.142/2015-16 dated September 24, 2015, on the capital requirements during the lifetime of the bond in respect of which partial credit enhance...

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RBI/2016-17/304 DBR.Appt.No.BC.68/29.67.001/2016-17 May 18, 2017 All Scheduled Commercial Banks (excluding RRBs) Madam/ Dear Sir, Minimum qualifications and experience for CFO and CTO Rapid innovations in banking and technology call for better risk governance in the areas of finance and technology. A Chief Financial Officer (CFO) and Chief Technology Officer (CTO) in banks’ management structure would play a crucial role in strengthening and sustaining the banks’ risk ...

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MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 12th May, 2017 G.S.R. 460(E).— In exercise of the powers conferred by sub-section (1) of section 11, read with clause (c) of the proviso to section 5, of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017), the Central Government hereby makes the following rules, namely:— 1. Short title and commencement.— (1) These rules may be called the Specified Bank Notes (D...

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RBI/2016-17/302 Ref: DBR.CO.No.Ret.BC/66/12.07.144/2016-17 May 11, 2017 The Chairperson All RRBs Madam/Dear Sir, Submission of Statutory returns (SLR-Form VIII) in XBRL platform It has been decided to move the reporting of SLR from PCRPCD to XBRL (Extensible Business Reporting Language) platform. You are therefore advised to submit the returns (Form VIII) in XBRL from the month of April 2017. Yours faithfully, (S K Kar) Chief General Manager...

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RBI/2016-17/300 DPSS (CO) EPPD No.2612/04.03.01/2016-17 May 08, 2017 The Chairman and Managing Director / Chief Executive Officer of member banks participating in NEFT Madam / Sir, National Electronic Funds Transfer (NEFT) system – Settlement at half-hourly intervals National Electronic Funds Transfer (NEFT) system presently settles the fund transfer requests of the participating banks on net basis at hourly intervals from 8:00 am to 7:00 pm on all working days. All partic...

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RBI/2016-17/299 DBR.BP.BC.No.67/21.04.048/2016-17 May 5, 2017 The Chairman and Managing Director/Chief Executive Officer All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam/Dear Sir, Timelines for Stressed Assets Resolution Please refer to thecircular DBOD.BP.BC.No.97/21.04.132/2013-14 dated February 26, 2014on “Framework for Revitalising Distressed Assets in the Economy – Guidelines on Joint Lenders’ Forum (JLF) and Corr...

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RBI/2016-17/294 DBR.BP.BC.No.65/21.04.103/2016-17 April 27, 2017 The Chairman and Managing Director/Chief Executive Officer All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) And Small Finance Banks Madam/Dear Sir, Risk Management Systems – Role of the Chief Risk Officer (CRO) Please refer to the guidelines on Risk Management Systems issued vide our circular DBOD.No.BP.(SC).BC.98/21.04.103/99 dated October 7, 1999 and the Guidance Notes...

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RBI/2016-17/289 IDMD.CDD.No.2760/14.04.050/2016-17 April 20, 2017 The Chairman & Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd. (SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bonds 2017-18 – Series I Government of India has vide its Notification F.No. 4(8)-(W&M)/2017 dated April 20, 2017announced that the Sovereign G...

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RBI/2016-17/284 Ref. DBS.CO.PPD.BC.No.9/11.01.005/2016-17 April 20, 2017 The Chairman/Chief Executive All Scheduled Commercial Banks (Excluding RRBs) Madam/Dear Sir, Compliance with Ghosh Committee Recommendations We invite attention to ourcircular DBS.CO.PPD.BC.No.10/11.01.005/2015-16; dated April 28, 2016, in terms of which banks have been advised that the compliance to the Jilani Committee recommendations need not be reported to the Audit Committee of the Board (ACB). 2. A...

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RBI/2016-17/283 DBR.BP.BC.No.63/21.04.018/2016-17 April 18, 2017 All Commercial Banks (Excluding Regional Rural Banks) Madam/Dear Sir, Disclosure in the “Notes to Accounts” to the Financial Statements- Divergence in the asset classification and provisioning Please refer to paragraph 22 of the Fourth Bi-monthly Monetary Policy Statement, 2015-16 announced on September 29, 2015 on the captioned subject (extract enclosed). 2. The Reserve Bank of India (RBI) assesses ...

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RBI/2016-17/282 DBR.No.BP.BC.64/21.04.048/2016-17 April 18, 2017 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam/Dear Sir, Additional Provisions For Standard Advances At Higher Than The Prescribed Rates Please refer to paragraph 5 of theMaster Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated July 1, 2015. 2. It is advised that the provisioning rates prescribed in the abovementioned cir...

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RBI/2016-17/281 DBR.BP.BC.No.61/21.04.018/2016-17 April 18, 2017 All Scheduled Commercial Banks (excluding Regional Rural Banks) Madam / Dear Sir, Guidelines on compliance with Accounting Standard (AS) 11 [The Effects of Changes in Foreign Exchange Rates] by banks - Clarification Please refer tocirculars DBOD.No.BP.BC.76/21.04.018/2004-05 dated March 15, 2005andDBOD.BP.BC.No.76/21.04.018/2005-06 dated April 05, 2006on the captioned subject. 2. It has been observed that banks ...

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RBI/2016-17/280 DBR.No.FSD.BC.62/24.01.040/2016-17 April 18, 2017 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/ Madam, Prudential Guidelines – Banks’ investment in units of REITs and InvITs Please refer to the paragraph 12 of the Statement on Developmental and Regulatory Policies (extract enclosed) issued by RBI on April 06, 2017. As indicated therein, it has been decided to allow banks to participate in Real Estate Investment Trusts (REITs) and Infrastru...

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Please refer to RBI circulars No. DBS.CO.PP.BC.9/11.01.005/2002-03 dated December 21, 2002 and DBS.CO.PP.BC.13/11.01.005/2003-04 dated June 15, 2004 on the scheme of Prompt Corrective Action. 2. The existing PCA framework for banks has since been reviewed and revised. The salient features are provided in the Annex. 3. The provisions of the revised PCA framework will be effective from April 1, 2017 based on the financials of the banks for the year ended March 31, 2017. The framework would be rev...

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To emphasize the importance of financial literacy, it has been decided to observe the week June 5-9, 2017 as Financial Literacy Week across the country. 2. The literacy week will focus on four broad themes, viz.KYC,Exercising Credit Discipline,Grievance Redressaland Going Digital (UPIand*99#). The five messages that will be communicated to the common man based on the above broad themes are available under "Financial Literacy Week" in the downloads section of thefinancial education webpage of RB...

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As announced in theFirst Bi-monthly Monetary Policy Statement for 2017-18, it has been decided to allow substitution of collateral (security) by the market participants during the tenor of the term repos conducted by Reserve Bank of India under the Liquidity Adjustment Facility, from April 17, 2017. 2. The securities offered for substitution by the market participants shall be of similar market value based on the latest prices published by the Fixed Income Money Market and Derivatives Associati...

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RBI/2016-17/271 DGBA.GAD.No.2646/31.02.007/2016-17 April 7, 2017 All Agency Banks Dear Sir/Madam, Systems and Controls for conduct of government banking Please refer to ourMaster Circulars DGBA.GAD.No.2/31.12.010/2015-16 dated July 1, 2015on Conduct of Government Business by Agency Banks - Payment of Agency Commission andDGBA.GAD.No.H-1/31.05.001/2015-16 dated July 1, 2015on Disbursement of Governme...

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RBI/2016-17/271 DGBA.GAD.No.2646/31.02.007/2016-17 April 7, 2017 All Agency Banks Dear Sir/Madam, Systems and Controls for conduct of government banking Please refer to ourMaster Circulars DGBA.GAD.No.2/31.12.010/2015-16 dated July 1, 2015on Conduct of Government Business by Agency Banks - Payment of Agency Commission andDGBA.GAD.No.H-1/31.05.001/2015-16 dated July 1, 2015on Disbursement of Governme...

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Please refer to ourcircular DGBA.GAD.2012/15.02.005/2016-17 dated February 9, 2017on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.1/4/2016–NS.II dated March 31, 2017 advised the rate of interest on various small savings schemes for the first quarter of the financial year 2017-18 (copy enclosed). 2. The contents of this circular may be brought to the notice of the branches of your bank operating Government Small Saving Schemes for necessary acti...

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As announced in theFirst Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC), it has been decided to keep the Repo rate under the Liquidity Adjustment Facility (LAF) unchanged at6.25 per cent. However, consequent upon the narrowing of the LAF corridor, the Reverse Repo rate under the LAF now stands adjusted at6.0 per cent. This change will come into force with immediate effect. All other terms and conditions of the current LAF Scheme will remain unch...

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As announced in theFirst Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC), consequent upon the narrowing of the LAF corridor, the Marginal Standing Facility (MSF) rate now stands adjusted at6.50 per cent. All other terms and conditions of the current MSF scheme will remain unchanged. ...

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Please refer to our circular DBR.No.Ret.BC.19/12.01.001/2016-17 dated October 04, 2016 on the captioned subject. 2. As announced in the First Bi-Monthly Monetary Policy Statement 2017-18 dated April 06, 2017, the Bank Rate stands adjusted by 25 basis points from 6.75 per cent to 6.50 per cent with effect from April 06, 2017. 3. All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised as indicated in the Annex....

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A reference is invited to ourcircular DPSS.CO.PD.No.1515/02.14.003/2016-17 dated December 16, 2016wherein special measures for debit card transactions (including for payments made to Government) were introduced for a temporary period starting January 1, 2017 through March 31, 2017. Further, attention is also invited to “Draft Circular - Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions” dated February 16, 2017wherein comments from the public were sought for ...

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RBI/2016-17/262 FIDD.CO.LBS.BC. No. 26/02.01.001/2016-17 March 30, 2017 The Chairmen and Managing Directors SLBC Convenor Banks Dear Sir, Assignment of Lead Bank Responsibility As per the Gazette of India Notification dated February 22, 2017, the merger of Associate banks with State Bank of India has been notified. The Order comes into effect on April 1, 2017. 2. Therefore, it has be...

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RBI/2016-17/260 DPSS.CO.CHD.No./2720/03.01.03/2016-17 March 29, 2017 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including Regional Rural Banks/ Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Dear Sir/ Madam, All payment systems to remain closed on April 1, 2017 A reference is invited to the our recentcircular RBI/2016-17/257DPSS.CO.CHD.No./2695/03.01.03/2016-17 dated Ma...

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RBI/2016-17/259 DBR.No.Leg.BC.56/09.07.005/2016-17 March 29, 2017 All Agency Banks Dear Sir/ Madam, Opening of all Agency Banks for government business on April 1, 2017 – Revised instructions We had vide ourcircular DBR.No.Leg. BC.55/09.07.005/2016-17 dated March 24, 2017advised all Agency Banks to keep all their branches dealing with government business open on all days in the current financial year and on April 1, 2017 (including Saturday, Sunday and all holidays). 2. ...

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RBI/2016-17/256 DBR.No.Leg.BC.55/09.07.005/2016-17 March 24, 2017 All Agency Banks Dear Sir/ Madam, All Agency Banks to remain open for public on all days from March 25, 2017 to April 1, 2017 The Government of India has advised that all Pay and Account Offices will remain open on all days up to April 1, 2017 to facilitate government receipt and payment functions. Accordingly, all Agency Banks are advised to keep all their branches dealing with government business open on all days...

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RBI/2016-17/255 DPSS.CO.CHD.No./2656/03.01.03/2016-17 March 23, 2017 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including Regional Rural Banks/ Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir, Special Clearing operations on March 30 and 31, 2017 A reference is invited to the circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No.2...

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RBI/2016-17/254 A.P. (DIR Series) Circular No. 41 March 21, 2017 To, All Authorised Dealer Category - I Banks Madam / Sir, Risk Management and Inter-bank Dealings: Operational flexibility for Indian subsidiaries of Non-resident Companies Attention of Authorised Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA. 25/RB-2000 dated M...

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